Drought
Farmers made significant headway in planting progress last week. USDA shows nearly half of the country’s corn crop is planted and 35% of the soybean crop is now in the ground. There are several states setting records.
Farmers in the Southern Plains are finally starting to see much-needed moisture hit their fields. It may be too late for winter wheat, but it’s a hopeful sign for those needing the rain to even plant summer crops.
The Corn Belt will see a cooler weather pattern set in, and parts of the parched Plains will see higher chances of rain during the next couple of weeks, according to Eric Snodgrass of Nutrien Ag Solutions.
Dry conditions spurred by La Nina weighed on areas of the Corn Belt in 2022. As La Nina fades, and El Nino starts to make a return, meteorologists say the weather shift could also signal better crop production in 2023.
The updated Seasonal Drought Outlook for the U.S. is painting a grim picture for many drought-plagued areas of the Plains, but forecasters also expect drought to improve in parts of Nebraska and Iowa.
Kansas typically accounts for 25% of the nation’s winter wheat production, but ongoing drought is weighing on overall crop conditions. Farmers are now facing the possibility of increased abandonment this year.
Some 44% of U.S. soybean oil will go to biofuels during the current marketing year, said the monthly WASDE report. Two years ago, the biofuel share of soyoil consumption was 37%.
Drought continues to tighten its grip across the Plains, forcing farmers in West Texas to make some very difficult decisions this growing season. It’s also causing concerns about crumbling cotton infrastructure.
Just ahead of USDA’s Prospective Plantings report, the largest cotton growing state in the U.S. is seeing another year of drought, and with fields resembling the Dust Bowl, crop prospects are dwindling by the day.
As farmers in the Plains continue to see losses from drought, groups like NSP are discussing during Commodity Classic either permanent disaster aid or other changes to strengthen the safety net within Farm Bill.